Daily Economic Roundup – November 13, 2009

What’s on the Economic Horizon

Will Euro Zone Finally Post Growth?
US Trade Balance and UoM Consumer Sentiment Survey Today
Household Confidence in Japan to Improve Slightly
Canadian Trade Deficit Estimated to Shrink to 1.6 Billion

United States

The dollar finally managed to post some significant gains in yesterday’s trading session. The pause in dollar selling was attributed to Chinese Premier Wen Jiabao’s warning that the world faces an uneven recovery. More…

Euro zone

In a single day the EURUSD erased most of its gains that it had for the week. The fiber fell to low of 1.4821 before closing at 1.4840 in yesterday’s price action. More…

United Kingdom

Hmp! The pound turned a cold shoulder to the USD rally yesterday as the GBPUSD stayed holed up in a tight range. Even with no UK economic reports on Thursday’s docket, the GBPJPY managed to close higher at the end of the day. More…

Japan

The JPY gave way to the USD as Japan’s domestic consumer goods price index indicated that deflationary pressures still haunt the Japanese economy. Trading was mixed for Yen crosses, however, with the GBPJPY closing higher and the AUDJPY and EURJPY chalking up losses. More…

Canada

The CAD loosened its grip on the USD yesterday, allowing the USD to recover after all its losses this past week. Loonie trading retraced a bit to close at 1.0561. The question is, will this continue today? Or will CAD buyers see this as an opportunity to jump back in? More…

Australia

It looked like the AUD was going to set a new yearly high once again, but strong USD buying throughout the day actually brought the pair lower. The AUDUSD hit a high of 0.9370 before slumping the rest of the day to close the US session at 0.9226. More…

New Zealand

Renewed strength in the USD caused the NZDUSD pair to slip sharply in yesterday’s trading. After opening the week on a very promising note, the pair fell back to where it started. During the week, it went as high as 0.7462 before falling to a low of 0.7309. More…

Switzerland

The Swissy took a couple of steps back from parity in yesterday’s trading session. It looks like the dollar bulls managed to gather some strength risk aversion crept back into the markets. More…